Solvent Companies under the Insolvency and Bankruptcy Code: Unwrapping the Conundrum
Authored by: Amir Bavani, Founder, AB Legal Rishika Kumar, Senior Associate, AB Legal Anirban Aly Mandal, Associate, AB Legal The Insolvency and Bankruptcy Code, 2016 (‘IBC/Code’) with passage of time, has seen several legislative amendments, which were introduced to improvise the insolvency & liquidation processes under the Code and advance its aims in line with […]
Public Shareholders’ Entry Post Insolvency- ..SEBI’s Hail Mary Attempt
Authored by: Amir Bavani, Founder, AB Legal Rishika Kumar, Senior Associate, AB Legal Anirban Aly Mandal, Associate, AB Legal Read the full article HERE.
Scope of Mediation in Insolvency Proceedings – Bespoke approach for the complete Code
Authored by: Amir Bavani, Founder, AB Legal Rishika Kumar, Senior Associate, AB Legal Anirban Aly Mandal, Associate, AB Legal Introduction With the advent of the Insolvency and Bankruptcy Code, 2016 (‘Code/IBC’), the framework for resolution of stressed assets and corporate entities was transformed into a streamlined, risk-friendly and timebound endeavor. The ecosystem of commerce in […]
Determining the Date of Default under Section 9 of IBC – The usual Conundrum
Introduction Many unanswered questions have persisted since the implementation of the Insolvency and Bankruptcy Code of 2016 (“the IBC/Code”), and few concrete solutions have been laid down by the judiciary which have further been affirmed and introduced under the Code as amendment by the legislature. However, there are very peculiar issues still subsisting in the […]
Critical Analysis of the Mandatory Issuance of Notices under Rule 8 and Rule 9 of the Security Interest (Enforcement) Rules, 2002
Introduction The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (‘SARFAESI Act’) provides for methods that can be undertaken by a secured creditor to recover its dues in case of a default. The main provision under the SARFAESI Act is Section 13 relating to ‘Enforcement of Security Interest’ describing the manner, timelines and procedures […]
Wilful Defaulter’s Right Under the Indian Regime
Reserve Bank of India (‘RBI’), the Apex Bank of the country is bestowed with the power to regulate the banks as well as financial institutions (FIs) of the Country. From time-to-time RBI issues numerous circulars laying down its instructions and guidelines which all the subordinate banks are bound to follow. Among several circulars, the most […]
Assignment Agreement Of Asset Reconstruction Companies: To Be Registered Or Not
One of the most popular types of transactions in financial markets is debt assignment. It encompasses transferring a debt from a creditor (assignor) to a third party (assignee). The dialogue of having a registered and an unregistered assignment agreement is currently one of the most important issues faced in debt assignment transactions in India. Given […]
Do Asset Reconstruction Companies Require Prior Approval Of The RBI To Become Resolution Applicants Under The Insolvency Code?
The debt-ridden economy of India found a worthy messiah, when upon the recommendation of the 2nd Report of the Committee on Banking Sector Reforms circa 1998 (Narasimham Committee II), Asset Reconstruction Companies (ARCs) were set up1. In a nutshell, these ARCs take over Non-Performing Assets (NPAs). That is to say, NPAs and bad debts, in general, […]
India: A Confident Class Of Operational Creditor In The COC Is The Need Of The Hour For The Growth Of The Economy
The Insolvency & Bankruptcy Code, 2016 (‘IBC/Code’) has been introduced into the legal system to shift and anchor the creditor-oriented regime rather than the customary practice of debtor-oriented regime. A Company works not just on capital or funds but involves a large chunk of goods and services in running a successful Company they all are […]
Declaring NPA And Wilful Defaulter: A Banker’s Obligation
Banks are evaluated on their standard of assets as well as their number of branches and deposit volume. Today, one of the major concerns for Indian banks are Non-Performing Assets (NPAs), as NPAs have detrimental effect on the bank’s earnings, liquidity and solvency. Failure in the banking industry could have a negative effect on several […]
